Prospex Oil and Gas has received the go-ahead for drilling on the Italian hydrocarbon well, Podere Maiar.
The Podere Maiar, which is located in the Po Valley region of Italy, has successfully seen completion of the first casing run in hole and cementing.
Completed by Po Valley Energy (PVE), drilling is ready to begin from the 500m to target depth of 1,300m.
PVE have stated their confidence that the target depth can be reached within 6-8 days.
Prospex has a 17% working working interest in the project.
Bill Smith, Prospex non-executive chairman, said: “We are encouraged by the good progress being made on the Podere Gallina Exploration Permit in Italy and I look forward to providing further updates from the well site in the coming weeks.”
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